Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Executive Director Matt Jenkins was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 24
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Executive Director Matt Jenkins was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 29
Kalina Power Limited, Annual General Meeting, Nov 28, 2025 Kalina Power Limited, Annual General Meeting, Nov 28, 2025. New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.5m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Negative equity (-AU$3.4m). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (AU$35.2m market cap, or US$23.0m). Board Change • Aug 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Non-Executive Director Matthew Jenkins was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 07
Kalina Power Limited has completed a Follow-on Equity Offering in the amount of AUD 0.043808 million. Kalina Power Limited has completed a Follow-on Equity Offering in the amount of AUD 0.043808 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,475,966
Price\Range: AUD 0.008
Discount Per Security: AUD 0.00008
Security Features: Attached Options
Transaction Features: Rights Offering Announcement • Oct 31
Kalina Power Limited, Annual General Meeting, Nov 29, 2024 Kalina Power Limited, Annual General Meeting, Nov 29, 2024. New Risk • Aug 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.9m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.9m free cash flow). Share price has been highly volatile over the past 3 months (59% average weekly change). Negative equity (-AU$2.7m). Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$19.9m market cap, or US$13.5m). New Risk • May 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 64% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-AU$2.1m). Earnings have declined by 0.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (64% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$9.95m market cap, or US$6.54m). Announcement • Mar 23
Kalina Power Limited has filed a Follow-on Equity Offering in the amount of AUD 1.105064 million. Kalina Power Limited has filed a Follow-on Equity Offering in the amount of AUD 1.105064 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 276,266,001
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00004
Transaction Features: Rights Offering New Risk • Mar 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$4.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.5m free cash flow). Share price has been highly volatile over the past 3 months (33% average weekly change). Negative equity (-AU$2.1m). Earnings have declined by 0.6% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$11.1m market cap, or US$7.18m). Minor Risk Shareholders have been diluted in the past year (46% increase in shares outstanding). New Risk • Dec 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 13% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Negative equity (-AU$2.4m). Earnings have declined by 2.8% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$8.58m market cap, or US$5.64m). Minor Risk Shareholders have been diluted in the past year (13% increase in shares outstanding). Announcement • Nov 09
Kalina Power Limited has filed a Follow-on Equity Offering in the amount of AUD 2.020261 million. Kalina Power Limited has filed a Follow-on Equity Offering in the amount of AUD 2.020261 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 505,065,262
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Transaction Features: Rights Offering Announcement • Sep 02
Kalina Power Limited, Annual General Meeting, Oct 23, 2023 Kalina Power Limited, Annual General Meeting, Oct 23, 2023, at 10:00 AUS Eastern Standard Time. Agenda: To consider directorate elections. New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$15.2m market cap, or US$9.82m). Minor Risk Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Announcement • Aug 08
Kalina Power Limited announced that it expects to receive AUD 0.625 million in funding Kalina Power Limited announced a private placement to issue 10% unsecured convertible notes for the gross proceeds of AUD 625,000 on August 7, 2023. The transaction included participation from Existing Shareholders, Directors and Management. The directors and management contributed for AUD 200,000.The notes bear 10% coupon rate and matures on 30 July 2024.The Convertible Notes will be converted on the following price at Conversion Price of AUD 0.826 and 85% of the offer price of securities in the Company’s next capital raise. The Convertible Notes will be automatically converted into shares upon completing a capital raise of at least AUD 1,000,000. The Convertible Notes cannot be transferred except with the Company’s prior written approval. The issue of Convertible Notes to Directors or any related party will be subject to shareholder approval. Board Change • Nov 17
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 6 non-independent directors. Non-Executive Chairman Stephen White was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. No independent directors (5 non-independent directors). Non-Executive Director Peter Littlewood was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 
